The Starter Home Debate: When Should You Buy Real Estate?

Many people consider buying a home a rite of passage. But how do you know when it’s your time? Ultimately, that is the essence of the starter home debate: when should you buy real estate?

It’s All About the Money — Mostly

Let’s say you’re renting a place and the landlord hits you with a rent increase. You look at the new amount and think, “Goodness, that’s a mortgage payment.” Now the wheels are turning. But before they turn too far too fast, know you’ll be looking at additional expenses if you choose to buy a home instead of renting. These can include property taxes, mortgage insurance and HOA fees, along with maintenance costs, water usage and garbage collection. If your budget can swing all of that, you might be in the running. But wait…

The Down Payment

Coming up with the down payment cash takes most people out of the game. If you’re buying a home and you want the best interest rate on the loan you’ll need to get it, you’re looking at handing over 20 percent of the purchase price. If it’s a $200,000 home, you’ll need $20,000 in cash just to get the party started. Oh, by the way, there are also these things called closing costs that will typically require you to come up with another three percent of the purchase price, also in cash. Fortunately, there are ways to swing a buy without the full 20 percent, although they are more expensive in the long run. But hey, if that’s not an issue either, you’ve still got a shot. Unless…

Debt-to-Income Ratio

To qualify for a home loan, you have to be able to demonstrate to the lender you can afford to make the payments comfortably. Most financial institutions make this determination by measuring the monthly payment against your total monthly income. If the payment comes to less than 28 percent of your pre-tax income and all of your other debts — like credit cards, car loans and homeowners insurance rates — comprise less than 36 percent of your pre-tax income when combined with the mortgage, you’re still looking good. However,…

Credit Rating

Bad debt will come back to haunt you when you try to buy real estate. If you have some and are in a position to pay it off, that’s great. But know it will have already impacted your credit score negatively. Cheer up though, a less-than-pristine credit score won’t disqualify you; it’ll just mean you’ll pay a higher interest rate to get the loan. However, this will make your monthly payment higher, which will make your debt-to-income ratio higher, which could make it more difficult to show you can pay back the loan. But if that’s not a problem either, you’re pretty much relaxing in your new home. Except…

Commitment/Responsibility

When you buy a house, you’re committing to putting down roots and becoming part of a community. There’s a certain permanence implied, one underpinned by a willingness to take on the responsibility of maintaining the home, as well as your relationship to the neighborhood. Because the financial outlays are so significant, you should be prepared to live there for quite some time. When you do get ready to move, you’ll have to either become a landlord, or sell the house. Either way, in exchange for homeownership, you’ll give up a measure of flexibility. Now, if that isn’t a problem for you either, congratulations, you’ve just won the starter home debate. And yes, this is when you should buy real estate.

Is College Really the Key to Earning a Higher Income in Business Administration?

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Statistics show that investing in higher education can help you to earn many more hundreds of thousands of dollars during the course of a professional career. On average, finishing a high school education can lead you to menial jobs with lower rates of pay. Looking at careers in business management reveals jobs that have bigger salaries and exponentially more free-time compared with careers that only require a high school diploma. On the other hand, you’re going to have a lot more debt to repay if you earn a college degree. So, what most people need to do is figure out whether going to college is worth it when it comes to debt and higher earning capabilities.

Making College Diplomas Affordable

Going to college is about getting the best education available to you, but you can’t pursue a college degree without grimacing when you think about your student loan debt. College debt in the US has become such a big issue that employers are helping to pay student loans to propel staff into getting their masters and bachelor’s degrees. You can’t hire from within a corporate organization unless you already have the talent. When going to school, you might want to take classes that are the least expensive so that your debt will not be as high at the time of graduation.

Your Income Earned as a Business Administrator

If you don’t have a lot of job history as a business administrator, your introductory salary will be on the lower end of the spectrum. Show employers your resume that entails a decade or more of hands-on experience in business administration and you can ask for more than what is offered. Ultimately, debt, especially student loan debt and your ability to repay it will be connected to the income you earn in business administration. After you get a few raises and pay down the principal amount on your student loans, you will be able to get out of debt sooner.

Can You Work as a Business Administrator Without a College Degree?

Years ago, there were plenty of chances for new hires to land jobs as business administrators without completing their college degrees. Some could get hired while they were still working on a bachelors in management. Other new hires might have been recommended by family or friends who knew them personally. Today, you would need to have some type of college education, even if it wasn’t related to business administration, to get hired as an administrator. It isn’t the norm for a high school graduate to become a business administrator, especially since a young adult doesn’t have very much experience in life.

In short, a college degree is necessary to become a business administrator. You don’t have to graduate from a college with the highest tuition rate, but you need to find a college that has an excellent business administration program. The debt you incur during college will take years to eliminate, but remember that your college diploma will continue to help you earn a bigger salary each year.

Conor McGregor’s Net Worth

Conor McGregor's net worth

If you’re like me you are eagerly awaiting the boxing match Saturday between undefeated boxing champion Floyd Mayweather and UFC superstar Conor McGregor. Both parties have the opportunity to make a pretty penny from the event but how much?

McGregor has been boasting for months that this single fight has given him the opportunity to double his net worth (or more) overnight. Is that true? What is Conor McGregor’s net worth and how much does he stand to gain from the upcoming fight?

About Conor McGregor

Conor McGregor is one of the most famous UFC fighters out there right now. That is because of two things: McGregor is a great fighter and he’s got an attitude to match.

McGregor was born in Dublin, Ireland in 1988. His Irish heritage has been a huge part of his career and something he’s never been ashamed of. He and his long-time girlfriend, Dee Devlin, are huge celebrities in Ireland as well. In fact, there is even a mural of them on O’Connell Street.

In 2007 McGregor got his start as an amateur fighter. Within a year he was fighting in the pro league and within another six he signed with the Ultimate Fighting Championship (UFC). Since signing with UFC, his career has exploded!

The 29-year-old fighting champion has headlined four of the six highest-earning pay-per-view fights in UFC history. In fact, his fight with Nate Diaz has been recorded as the highest-earning PPV fight ever.

Now he’s gearing up for the biggest fight of his career (and arguably the biggest fight in sporting history). On Saturday he’ll go head-to-head with Floyd “Money” Mayweather in a 12-round boxing match. It will be his highest paying gig yet. So, how will it impact Conor McGregor’s net worth?


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What is Conor McGregor’s Net Worth?

Conor McGregor's net worth Celebrity Net Worth estimates Conor McGregor’s net worth to be about $35 million (though some sources estimate it to be much higher). He earns tens of millions of dollars per fight and approximately $30 million per year.

As previously stated, McGregor has been boasting about the amount of money he’s going to make for the Mayweather fight. In fact, he stands to double his net worth in one night. Sources say that he’ll make around $75 million (and up to $150 million) if he’s able to beat the undefeated Floyd Mayweather. Either way, McGregor will be making serious cash Saturday night and he’ll be able to line up bigger endorsement deals in the future (if he wins).

No matter what the outcome is, Saturday’s fight is one of the most anticipated sporting events in history and McGregor will be remembered forever for it.

If you liked this article you may also enjoyed reading about Floyd Mayweather’s net worth approaching Saturday’s fight. 

Photos: MMA Mania and The Sun

5 Tips You’ll Need To Know When Paying Off Debt

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As you probably already know, getting in debt is surprisingly easy. Spending too much or overestimating your revenue can lead to big problems in the near future. Unfortunately, digging yourself out of debt is not easy. It can take many years to finally claw your way back to a debt-free life. Nevertheless, you must realize that the endeavor is not hopeless. With the right strategy and a little bit of luck, you’ll eventually be able to get out of debt. Make sure you utilize the tips below to make the process much easier.

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